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Japan Real Estate to repay ¥6.5B debt with new loan

Office-focused real estate investment trust Japan Real Estate Investment Corp. secured ¥6.50 billion from the Bank of Tokyo-Mitsubishi UFJ Ltd. for the early repayment of a short-term loan of the same amount Feb. 26.

The new loan will be due Feb. 26, 2026. The interest rate is yet to be determined.

The existing loan, split into sums of ¥1.50 billion and ¥5.00 billion, was provided by the Bank of Tokyo-Mitsubishi on March 2, 2017, and Dec. 26, 2017, respectively, at an interest rate of 0.0954%. They are scheduled to mature March 2 and Dec. 26, respectively.

As of Feb. 16, US$1 was equivalent to ¥106.01.